Islander and Medici trade the European open | Page 180 | Forex Factory

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Islander and Medici trade the European open

  • #3,581
  • Feb 17, 2012 1:53am Feb 17, 2012 1:53am
Possible range breakout entries.

Attached Image (click to enlarge)
Click to Enlarge Name: eu_20120217-rb.gif Size: 27 KB
Follow, don't anticipate.
  • #3,582
  • Feb 17, 2012 3:56am Feb 17, 2012 3:56am
Not taken this entry, but would have been at 3138. We're back in the overnight range so watching closely price and possible divergence for a 2B.

Attached Image (click to enlarge)
Click to Enlarge Name: eu_20120217-rb-1.gif Size: 26 KB
Follow, don't anticipate.
  • #3,583
  • Feb 17, 2012 4:00am Feb 17, 2012 4:00am
Quoting Ian
Not taken this entry, but would have been at 3138. We're back in the overnight range so watching closely price and possible divergence for a 2B.

Attachment
Would be tightening stop or closing at BE now. No need to take undue risk at this level. Gave it a chance to go.

Attached Image (click to enlarge)
Click to Enlarge Name: eu_20120217-rb-2.gif Size: 26 KB
Follow, don't anticipate.
  • #3,584
  • Edited 4:38am Feb 17, 2012 4:22am | Edited 4:38am
Quoting Ian
Would be tightening stop or closing at BE now. No need to take undue risk at this level. Gave it a chance to go.

Attachment
A push back down into the range to trigger more buy orders by the look of it.
Close and reverse to a buy after the 2B/div then HL at 3139.

Attached Image (click to enlarge)
Click to Enlarge Name: eu_20120217-rb-3.gif Size: 26 KB
Follow, don't anticipate.
  • #3,585
  • Feb 20, 2012 12:36am Feb 20, 2012 12:36am
Morning folks. Happy to see discussion and charts (Thanks Ian!).

Don't know if there's much point to a discussion on Cloud vs T3MAs, as the difference is one of visual presentation. For me, the cloud is still experimentation with the overall objectives of reducing information flow in order to make decisions easier, and of making trading more intuitive and less analytical. The Cloud provides objective rules which can be traded intuitively, and that's what appeals to me.

Attached the first trade for the week (and some time...). I flipped between MAs and Cloud to get a feel for the difference, and on this occasion the Cloud felt better.
Attached Image (click to enlarge)
Click to Enlarge Name: cloud breakout 20 feb 12.PNG Size: 20 KB
  • #3,586
  • Feb 20, 2012 1:40am Feb 20, 2012 1:40am
Quoting medici
Morning folks. Happy to see discussion and charts (Thanks Ian!).

Don't know if there's much point to a discussion on Cloud vs T3MAs, as the difference is one of visual presentation. For me, the cloud is still experimentation with the overall objectives of reducing information flow in order to make decisions easier, and of making trading more intuitive and less analytical. The Cloud provides objective rules which can be traded intuitively, and that's what appeals to me.

Attached the first trade for the week (and some time...). I flipped between...
Very nice setup Medici. I see the 17,8 T3 Oscillator setting shows divergence better.
What market price indicator is it that your using with the 5th digit in yellow?
Thanks.
  • #3,587
  • Feb 20, 2012 2:01am Feb 20, 2012 2:01am
Quoting AlexC
Very nice setup Medici. I see the 17,8 T3 Oscillator setting shows divergence better.
What market price indicator is it that your using with the 5th digit in yellow?
Thanks.
Thanks Alex. Indicator attached.
Attached File(s)
File Type: mq4 Price_Enlarge_v1.mq4   6 KB | 353 downloads
  • #3,588
  • Feb 20, 2012 4:54am Feb 20, 2012 4:54am
Quoting medici
Thanks Alex. Indicator attached.
Much appreciated.
  • #3,589
  • Feb 20, 2012 5:19am Feb 20, 2012 5:19am
Quoting medici

Attached the first trade for the week (and some time...). I flipped between MAs and Cloud to get a feel for the difference, and on this occasion the Cloud felt better.
I can't see how the oscillator was used for the trade you posted...is it even necessary? if so, how are you using it?

thanks in advance.
  • #3,590
  • Feb 20, 2012 11:48pm Feb 20, 2012 11:48pm
Quoting enochben
I can't see how the oscillator was used for the trade you posted...is it even necessary? if so, how are you using it?

thanks in advance.
The Oscillator wasn't used in that trade. I use it for OB/OS and potential counter-trend trades with or without divergence.

But, yes, if you are only trading with the trend, then you could live without it.

And with 9,20 settings it has a separate use on the M5 chart which I keep side by side with the RB chart.
  • #3,591
  • Feb 21, 2012 12:22am Feb 21, 2012 12:22am
Quoting medici
The Oscillator wasn't used in that trade. I use it for OB/OS and potential counter-trend trades with or without divergence.

But, yes, if you are only trading with the trend, then you could live without it.

And with 9,20 settings it has a separate use on the M5 chart which I keep side by side with the RB chart.
I should also mention the attached in connection with OB/OS or CT trades. The confluence of the Oscillator and the channel tends to produce good setups.
Attached File(s)
File Type: mq4 T3MA Dynamic Envelope.mq4   2 KB | 354 downloads
  • #3,592
  • Feb 21, 2012 12:27am Feb 21, 2012 12:27am
A couple of examples of that from this morning.
Attached Image (click to enlarge)
Click to Enlarge Name: CT and OS trades 21 feb.PNG Size: 22 KB
  • #3,593
  • Feb 21, 2012 1:06am Feb 21, 2012 1:06am
Actual trades taken. Now out of both.
Attached Image (click to enlarge)
Click to Enlarge Name: Trades 21 feb morning.PNG Size: 21 KB
  • #3,594
  • Feb 21, 2012 1:21am Feb 21, 2012 1:21am
Finally a CT trade for 10 (targeting yesterday's high).
Attached Image (click to enlarge)
Click to Enlarge Name: ct trade 21 feb.PNG Size: 22 KB
  • #3,595
  • Feb 21, 2012 2:21am Feb 21, 2012 2:21am
Just taken this for +30. Closed at the pivot when it held for the second time.

Attached Image (click to enlarge)
Click to Enlarge Name: eu_20120121-rb5.gif Size: 18 KB
Follow, don't anticipate.
  • #3,596
  • Feb 21, 2012 2:24am Feb 21, 2012 2:24am
A beauty I took the same entry...and naughtily bought the reversal candle under the DP...clear divergence in OS territory.
  • #3,597
  • Feb 21, 2012 3:09am Feb 21, 2012 3:09am
Quoting medici
Finally a CT trade for 10 (targeting yesterday's high).
Nice trades this morning, Medici. Think I would have taken the same, except I may have missed the CT short (though catching the later LH was great too).

I've basically just been relaxing the past couple days instead of trading simply because I felt like I could use the extra long weekend. Of course, we've now had some lovely moves after all the poor stuff last week. Seems to often be the way of things when I'm away from charts but on the other hand your move last week couldn't have been better timed.

I did however get a good chance to look at the Cloud this weekend. I think I will continue with the multiple MA setup but I found it to be a useful exercise nonetheless. It really helps to train the eye to look for those tightening periods and consider improved breakout management techniques. Still a work in progress but for now I think being able to see both MA8 and 17 is likely more useful during some of those deeper cloud pullbacks.

Would you mind giving a bit more detail on your CT short? I see you passed on the first divergence opportunity on the shooting star and then took the next bear bar. Both had some room to MA8 so I wondered what your reasoning was for passing on the first chance and getting in the second.

Personally I'm not taking many CT trades but one concept I have been using regularly is the idea of a third failed push. So after that initial move and an attempt higher, we then fail at the highs that third time barely making it past the high two bars before. So for me that's a pretty solid signal that we are going to fail at the level for the time being and a short is fair game. I've been calling it the Triple Tap. This one wasn't the best example of that visually but it still fits for me. Just curious what your criteria was.
  • #3,598
  • Feb 21, 2012 3:27am Feb 21, 2012 3:27am
Just wanted to be clear on what I mean by a Triple Tap, as I'm not talking about the highs earlier in the day. Attached (the second trade) is a fairly textbook example that I traded recently. A third attempt up, with each attempt barely passing the one before. I've found that these are highly reliable in the proper context (ideal ones don't come around often) and they are one of only a few CT setups I regularly take with RBs.
Attached Image (click to enlarge)
Click to Enlarge Name: eu-rb.gif Size: 41 KB
  • #3,599
  • Feb 21, 2012 5:42am Feb 21, 2012 5:42am
note: these are hindsight trades I would have taken if I could have stayed awake!

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  • #3,600
  • Feb 21, 2012 5:46am Feb 21, 2012 5:46am
Quoting medici
A couple of examples of that from this morning.
On the chart you posted I noticed some interesting grid lines at every odd 8 20 pips apart....if this has been mentioned before, please forgive me, but this looks like a version of mongolians quarter levels with a little deviation...

do you use the levels for entries?

thanks in advance.
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